Real Depreciation of Rental Deposits in Türkiye Against Inflation: Economic Analysis, Legal Review and Policy Recommendations

Year 2025, Volume: 14 Issue: 2, 136 - 155, 31.08.2025

Emine Örs

https://doi.org/10.37460/sid.1718122

Abstract

This study examines the economic and legal dimensions of the real depreciation of rental deposits determined with fixed nominal amounts in lease agreements in Türkiye, particularly under high inflation conditions. Article 342 of the Turkish Code of Obligations regulates the collection and safekeeping of rental deposits in bank accounts; however, it does not include any mechanisms to preserve the real value of deposits over time. Within the scope of the study, Consumer Price Index (CPI) data and average rental prices obtained from Endeksa for the period of May 2021 to May 2025 were used to calculate the real depreciation of a rental deposit initially set at 2,360 TL. The analysis employed a fixed-price conversion method to quantify the loss in real value due to inflation. The findings indicate that the deposit lost approximately 88% of its real value during this period, rendering it largely ineffective in fulfilling its function as a financial guarantee for landlords and a protective mechanism for tenants. The study also reviews international practices in countries such as the United Kingdom, Germany, South Korea, and the United States, focusing on mechanisms including interest-bearing accounts, state-guaranteed funds, and inflation-indexed deposit systems. The applicability of these models to the Turkish context is evaluated. Based on these findings, policy recommendations are proposed—such as inflation-indexed updates, mandatory interest accrual, and the inclusion of a value protection obligation in Article 342. This study contributes to the limited literature on rental deposits in Türkiye and aims to provide structural policy suggestions for improving legislative effectiveness under inflationary conditions.

Keywords

Rent Deposit , Inflation , Real Depreciation , International Practices

Türkiye'de Sabit Nominal Tutarla Alınan Kira Depozitolarının Enflasyon Karşısındaki Reel Değer Kaybı

Abstract

Bu çalışma, Türkiye’de kira sözleşmeleri kapsamında sabit nominal tutarla belirlenen depozito bedellerinin yüksek enflasyon koşullarında uğradığı reel değer kaybını ekonomik ve hukuki boyutlarıyla ele almaktadır. Türk Borçlar Kanunu’nun 342. maddesi, depozitonun alınması ve banka hesabında tutulmasını düzenlemekte; ancak zaman içerisinde oluşabilecek reel değer kaybına karşı herhangi bir koruma mekanizması içermemektedir. Bu bağlamda, çalışmada Mayıs 2021 – Mayıs 2025 dönemine ait TÜFE verileri ile Endeksa’dan elde edilen ortalama kira verileri kullanılarak, sabit nominal tutarla (2360 TL) belirlenmiş bir kira depozitosunun reel değer kaybı hesaplanmıştır. Hesaplamalar, sabit fiyatlarla reel değer dönüşümü yöntemiyle yapılmış ve enflasyonun depozito üzerindeki etkisi nicel olarak ortaya konmuştur. Elde edilen bulgular, söz konusu dönemde depozitonun yaklaşık %88 oranında reel değer kaybına uğradığını göstermektedir. Bu durum, hem depozitonun ev sahibi açısından güvence işlevini, hem de kiracı açısından hakları koruma niteliğini zayıflatmaktadır. Ayrıca, İngiltere, Almanya, Güney Kore ve ABD gibi ülkelerde uygulanan faiz işletimi, devlet güvenceli fonlar ve enflasyona endeksli koruma modelleri incelenerek Türkiye’ye uyarlanabilirliği değerlendirilmiştir. Çalışma, ilgili mevzuata değer koruma yükümlülüğü eklenmesi gibi politika önerileri sunmakta ve kira depozitolarına ilişkin literatürdeki boşluğu doldurmayı amaçlamaktadır.

Keywords

Kira Depozitosu , Enflasyon , Reel Değer Kaybı , Uluslararası Uygulamalar

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